Lessons With Lily: Capturing the Market

Lessons With Lily: Capturing the Market

Lily’s Gems

Last week I had the chance to take Lily to Crystal Cave and she insisted on panning for gems. Upon our return home, she spent the next hour on our back patio cleaning each of the items she collected with a toothbrush, shining each one to perfection. As she neared completion, I asked “What’s your plan for these gems?”

She proceeded to tell me that she was going to open a “gem museum.”

“I’m going to own a gem museum and let the visitors enter see the gems for free!”

“Free?  How will you pay for your costs?” I questioned in a thought-provoking way.

She proceeded to explain that she would charge them $4 to leave. Thinking this rather comical, I asked her what she would do if they could not pay?  She proceeded to tell me she would have them sweep the floor and pay them until they had enough to pay back the $4.

I love these moments as a parent. Here’s the thing, Lily is not far from a great strategy.

Lily sees the value in the products/services that she offers and feels that once she lets visitors see what she has to offer, they won’t have an issue paying what she has identified as reasonable. My suggestion to her was to put a tip jar at the end of the tour, and if she presented her products and services well enough, she could potentially even make more profit.

Behney Management Strategies LLC can assist you in creating successful game plans of your own.